WH tax on banking transaction to remain 0.3% till Feb 29

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ISLAMABAD, Jan 30 (APP): Finance Minister, Senator Mohammad Ishaq Dar as Chairman, Economic Coordination Committee (ECC) of the cabinet here on Saturday accorded anticipatory approval to amend 0.6 percent withholding tax rate on banking transactions to 0.3 percent in respect of non-filers till February 29, 2016. It may be mentioned that the Income Tax Amendment Act 2016 empowers the Federal Government to amend the rate of 0.6 percent on the recommendation of the ECC, says a statement issued here.